It's not a bad ideas, per say, but I've never liked how some forums do worse things than that (namely Pokecommunity I know allows people to sign-up for contests in one thread, then post all of their works separately in their own threads, and finally do judging or evaluations of people's work...or something on the lines of that. It's been years since I've actually been there, and I can't stand that place whatsoever...). Frankly, I like keeping things to one thread at a time, but more contests may make it seem like I'm intentionally flooding the writing forum with contests for no other reason than to have them (especially since they're ideally continuing rounds), wouldn't it? If not, I'll start asking SR about hosting/advertising more of the ones that are going on.